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Summary: Nice Read but Unrealistic for Today's World
Review: Many of us work extrememly hard and have sacrificed a great deal in order to live a better quality of life (vacation, nice home, car, etc.). Although I appreciate the underlying thesis of this book, there is no way that I would live like a pauper so that I can die with a few million in the bank, so the Goverment can take it away in estate taxes. It makes no sense. Yes, we should live sensibly, but unless you give yourself the opportunity to enjoy a few of the finer things in life, why work at all? So, get the book, appreciate what these people have done to earn their wealth and then go out and buy a Rolex! Put the extra in a good mutual fund
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Summary: Frugality's the Key...Could It Be that Simple?
Review: According to Stanley and Danko, American millionaires do not fit Hollywood's stereotype of Mr. and Mrs. Conspicuous Consumption living "the good life" in smoking jackets and slippers whilst noshing on caviar and watercress sandwiches: "Pardon me, do you have any Grey Poupon?"To the contrary, today's wealthy (defined by net worth, not high income) may be your plumber, dry cleaner and even your child's school teacher as easily as your doctor, lawyer or accountant. How do such mundane occupations buy their owners admission to the millionaire's club? The authors list seven good reasons, the first of which is that today's millionaires "live well below their means," saving an average 15% of their gross income, year after year, and investing it with wisdom and care. Frugality is not the only quality required by those who would be rich. But, it is a great start! When you pick up this book, head straight for the other six attributes of rich folks in the Introduction. You may be surprised. At times tedious, I suggest you quickly scan those paragraphs of The Millionaire Next Door that delve into more statistical data than you care to know about your wealthy neighbors in order to find the authors' conclusions on each point. They are gems worth highlighting and referring to again and again.
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Summary: Don't know millionaires that throw fish in their back seat !
Review: While this book shed's light on Americas out of control spending habits and constant desire for more items and better items, I am particularly troubled by the 40 pages of references the author makes towards purchasing cars. There are several chapters on how people with millions of dollars in the bank buys 5,000 dollar cars which are less than 1 percent of their net worth while all these other people with 4 or 5 thousand in the bank are out buying 20,000 dollar cars. The American automobile plays an important role in the lives of many people, we use them to get to work, to get to the store, to drop off our children at school and so forth. While I agree that many people spend too much on cars, I would say that the average person cannot buy a car that is less than one percent of their net worth for the simple fact that one, cars are expensive, and two they cannot buy a 200 dollar car because they would probably spend thousands fixing it. Sure a man with a million dollars in the bank has no worries when his 3,000 dollar car blows a transmission he has the money to fix it, but given the dependence on our vehicles to live, the average person has no choice but to make an expensive investment in a reliable vehicle rather than buying one that will be in the repair shop. There are way too many car references in this book that are just not logical in this day and age. I also know several very wealthy people, and while many of them do not spend lavishly on ridiculous items, they all have recognized how hard they have worked and they all have created a lifestyle that rewards this and I find it hard to believe that the many millionaires in this book live the lifestyle described. The book seems to make saving money a game and he with the most in the bank when they die wins. I myself have several dreams and desires and I will not hesitate to invest my hard-earned money into those dreams. What good is a million dollars in the bank when you are 80 years old and can't walk more anymore?
Rating: 
Summary: Litterally changed my life!
Review: I thought that I was prodigious accumulator of wealth (at 25yrs old), having a good deal of investments and income, but I realized after reading this great book that I wasn't living that well below my means, or how do you say it. Get this: Today I put an ad out to one magazine that I'm selling my quite recently acquired new BMW. Think I'll buy a cheapo mountain-bike and get a bus when it rains. In Helsinki, Finland you really can come and go without having an own car. The public transportation in general, like trams are convinient and fast. And the real joke is that the distance to my work is like 4kilometers, and thats like nothing! I drive that with a bike in ten minutes, compared to travelling with a car; usually its the traffic-hour and its so frustrating..and talking about where to put the car and the price to park...! The thing is that I want to become financially independent one day. It means that if it would be true today I could quit working and I'd live the rest of my life fine (at the same consumption-level) without working. I'm planning to make a budjet for this year very soon, and these rough calculations show that I'd be able to save so much money that its amazing. People always look at figures on monthly-basis, now take a look at those figures on yearly-basis (1-5yrs) what a difference one little thing can save in the long term.. Hope to receive mail from you all! All the best, Henkka ...
Rating:
Summary: Be frugal but enjoy life
Review: This was an interesting read with sound advice. Some of the criticism I've seen here is undeserved. The authors do not say you must live cheaply and have no fun, but to be smart and spend within your means. I have a friend who owns a modest business which is doing well. He doesn't care about cars or fine dining, so he drives an old pickup and has barbecues instead of going to restaurants. He loves fishing however and purchased a nice bass fisher. I have a good income and I like cars, so I bought a six year old BMW. It satisfied my desire for a fine machine and is within my means. Perhaps the authors could have emphasized that that you can still live well, but smartly.
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Summary: A book which could change your financial life completely
Review: This book has made remarkable highlights on the secrets to become a rich (or so called millionaire). Although the points mentioned are easier said than done. But if you persists, how come you could not be the next millionaire in the world.
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Summary: Unexpectedly fascinating!
Review: I bought this book expecting to get the REAL lifestyles of the rich and famous, and I did. I expected to get an understanding of their attitudes towards making, spending and saving money, and I did. What I didn't expect was to be utterly fascinated! This book elucidates every aspect of personal economics and backs it all up with statistical tables compiled from intensive research. Sounds super dry, doesn't it? Well, I was happily surprised to find that I could NOT put this book down! The authors' presentation of the information, coupled with the real-life stories throughout, is entertaining and enjoyable. By far the best book I've read in a long time.
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Summary: So you want to be a millionaire
Review: Not as entertaining as the TV show and sometimes outright boring...I'll summarize the book in a few words....The typical millionaire looks like and dresses like the average person, drives an older car, lives in a nondescript neighborhood, acts and lives like everyone else BUT SAVES LIKE HECK. [does not have a BMW, Gucci, or Rolex...has a Chevy, rack clothes and a Timex!!!]
Rating:
Summary: good philosophy but didn't show the how
Review: This book definitely showed me an uncommon approach to becoming wealthy (being frugal). However, I'd rather be rich by being intelligent than being frugal becuase what is the point of being rich with being cheap? You don't get to enjoy it. However, this book does show how one can become wealthy by being cheap. Despite the philosophy being interesting, the book is written in a very dull manner.
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Summary: Dad was right: Spend less than you earn
Review: Stanley and Danko turned an academic consulting endeavor into a fascinating exploration of the world of practical wealth. No, not the Hollywood or other media images of conspicuous consumption, ostentatious displays or gauche noveau riches, but rather the simple, tried and true model of living within your means, staying the course, and valuing wealth accumulation over conspicuous consumption. For those who wan to be wealthy, this is a much better road map than most if not all of the get-rich schemes that seem to better enhance the income of the author of the scheme than it does the wealth of his or her followers (or victims). In fact, Stanley and Danko publish the "secrets of wealth" and ask for nothing in return, proving the adage that a good idea has infinite value. My students, like many people, regularly confuse income with wealth and mistake consumption as an indicator of wealth. Danko and Stanley show otherwise. Like the classic work, "The richest man in Babylon", the authors study the profile of successful wealth gainers and show how you can do it, with hard work and discipline.
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